SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Fastly Inc. (FSLY) on Wednesday reported a loss of $23.4 million in its fourth quarter.
The San Francisco-based company said it had a loss of 18 cents per share. Earnings, adjusted for one-time gains and costs, came to 1 cent per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The cloud software developer posted revenue of $137.8 million in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $139.3 million.
For the year, the company reported a loss of $133.1 million, or $1.03 per share. Revenue was reported as $506 million.
For the current quarter ending in March, Fastly expects its results to range from a loss of 9 cents per share to a loss of 5 cents per share.
The company said it expects revenue in the range of $131 million to $135 million for the fiscal first quarter.
Fastly expects full-year revenue in the range of $580 million to $590 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FSLY at https://www.zacks.com/ap/FSLY
Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.
